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Let's take a look at the EIA's overview for natural gas for the Week Ending Wednesday, September 19, 2012.....
* Natural gas prices declined at most trading locations this week, erasing gains from last week. The spot price at the Henry Hub fell from $2.96 per million British thermal units (MMBtu) last Wednesday, September 12, to $2.70 per MMBtu yesterday, September 19.
* Natural gas futures prices declined along with spot prices. The New York Mercantile Exchange (NYMEX) near month contract (October 2012) fell from $3.063 per MMBtu last Wednesday to $2.762 per MMBtu yesterday.
* Working natural gas in storage rose last week to 3,496 Bcf as of Friday, September 14, according to EIA’s Weekly Natural Gas Storage Report (WNGSR). An implied storage build of 67 Bcf for the week positioned storage volumes 320 Bcf above year ago levels.
* The natural gas rotary rig count, as reported by Baker Hughes Incorporated on September 14, fell by 4 to 448 active units.
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